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NEW YORK , Aug. 23, 2022 /PRNewswire/ --The construction market in South Korea is driven by factors such as the growing demand for modular houses. However, factors such as the shortage of workers in the construction industry may challenge the market growth.
The construction market size in South Korea is expected to grow by USD 38.84 billion from 2021 to 2026. However, the growth momentum of the market will decelerate at a CAGR of 4.15% during the forecast period.
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Construction Market in South Korea 2022-2026:Scope
The report on the construction market in South Korea covers the following areas:
Construction Market in South Korea 2022-2026:Vendor Analysis
Daewoo E and C, DL Group, GS E and C Corp, Hanwha Engineering and Construction Corp., Hyundai Development Co., Hyundai Motor Group, KCCEC Engineering and Contracting Co., LOTTE Engineering and Construction Co. Ltd, Posco Engineering and Construction Ltd., and Samsung Electronics Co. Ltd. are among some of the major market participants. The key offerings of a few of these vendors are listed below:
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Construction Market in South Korea 2022-2026:Driver and Challenge
The growing demand for modular houses is driving the growth of the market. This demand is fueled by the increasing housing rents and the high cost of building new houses. Automation has simplified the process of assembling modular houses. Moreover, the use of robots can help manufacturers achieve short delivery times and high accuracy. In addition, the cost of these houses is lower than that of traditional houses, which has increased their demand among students and single-parent families.
The shortage of workers in the construction industry is challenging the growth of the construction market in South Korea . There is a lack of skilled workers such as technicians, site managers, and plumbers. As a result, companies have to turn down orders. Such factors are expected to limit the growth of the market during the forecast period.
Construction Market in South Korea 2022-2026:Segmentation
Construction Market in South Korea 2022-2026:Revenue-generating End-user Segments
The residential segment will be the largest contributor to the market growth during the forecast period. The substantial rise in the demand for housing in cities such as Seoul , Daegu, Busan , and Incheon, with the rise in population, is expected to drive the growth of this segment.
Construction Market in South Korea 2022-2026:Key Highlights
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Construction Market in Germany by End-user and Type - Forecast and Analysis 2021-2025
Construction Market In South Korea Scope
Decelerate at a CAGR of 4.15%
South Korea (Republic of Korea)
South Korea (Republic of Korea)
Leading companies, competitive strategies, consumer engagement scope
Daewoo E and C, DL Group, GS E and C Corp, Hanwha Engineering and Construction Corp., Hyundai Development Co., Hyundai Motor Group, KCCEC Engineering and Contracting Co., LOTTE Engineering and Construction Co. Ltd , Posco Engineering and Construction Ltd., and Samsung Electronics Co. Ltd.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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*Exhibit 08: Value chain analysis : Construction and Engineering
*Exhibit 09: Offerings of vendors included in the market definition
**3.4 Market outlook: Forecast for 2021 - 2026
*3.4.1 Estimating growth rates for emerging and high-growth markets
*3.4.2 Estimating growth rates for mature markets
*Exhibit 11: South Korea - Market size and forecast 2021 - 2026 ($ billion)
*Exhibit 12: South Korea market: Year-over-year growth 2021 - 2026 (%)
*Exhibit 13: Five forces analysis 2021 & 2026
*Exhibit 14: Bargaining power of buyers
*Exhibit 15: Bargaining power of suppliers
*Exhibit 16: Threat of new entrants
*Exhibit 19: Market condition - Five forces 2021
*The segments covered in this chapter are:
*Exhibit 20: End-user - Market share 2021-2026 (%)
**5.3 Residential - Market size and forecast 2021-2026
*Exhibit 22: Residential - Market size and forecast 2021-2026 ($ billion)
*Exhibit 23: Residential - Year-over-year growth 2021-2026 (%)
**5.4 Non-residential - Market size and forecast 2021-2026
*Exhibit 24: Non-residential - Market size and forecast 2021-2026 ($ billion)
*Exhibit 25: Non-residential - Year-over-year growth 2021-2026 (%)
**5.5 Civil works - Market size and forecast 2021-2026
*Exhibit 26: Civil works - Market size and forecast 2021-2026 ($ billion)
*Exhibit 27: Civil works - Year-over-year growth 2021-2026 (%)
*Exhibit 28: Market opportunity by End-user
*The segments covered in this chapter are:The segments covered in this chapter are:
*Exhibit 29: Type - Market share 2021-2026 (%)
**6.3 Private - Market size and forecast 2021-2026
*Exhibit 31: Private - Market size and forecast 2021-2026 ($ billion)
*Exhibit 32: Private - Year-over-year growth 2021-2026 (%)
**6.4 Public - Market size and forecast 2021-2026
*Exhibit 33: Public - Market size and forecast 2021-2026 ($ billion)
*Exhibit 34: Public - Year-over-year growth 2021-2026 (%)
*Exhibit 35: Market opportunity by Type
*8.1.1 Growing demand for modular houses
*8.1.2 Ongoing use of digital technologies
*8.1.3 Increasing awareness of custom-built facilities with minimum budgets
*8.2.1 Shortage of workers in the construction industry
*8.2.2 Challenges in integrating building automation software coupled with interoperability issues
*8.2.3 Rise in cost of construction
*Exhibit 37: Impact of drivers and challenges
*8.3.1 Increase in public infrastructure spending by the government
*8.3.2 Rising regulatory efforts to increase consumer spending on housing
*Exhibit 42: Market positioning of vendors
*Exhibit 43: Daewoo E and C - Overview
*Exhibit 44: Daewoo E and C - Product and service
*Exhibit 45: Daewoo E and C - Key offerings
*Exhibit 46: DL Group - Overview
*Exhibit 47: DL Group - Product and service
*Exhibit 48: DL Group - Key offerings
**10.5 GS E and C Corp
*Exhibit 49: GS E and C Corp - Overview
*Exhibit 50: GS E and C Corp - Business segments
*Exhibit 51: GS E and C Corp - Key offerings
*Exhibit 52: GS E and C Corp - Segment focus
**10.6 Hanwha Engineering and Construction Corp.
*Exhibit 53: Hanwha Engineering and Construction Corp. - Overview
*Exhibit 54: Hanwha Engineering and Construction Corp. - Product and service
*Exhibit 55: Hanwha Engineering and Construction Corp. - Key offerings
*Exhibit 56: Hyundai Development Co. - Overview
*Exhibit 57: Hyundai Development Co. - Product and service
*Exhibit 58: Hyundai Development Co. - Key offerings
*Exhibit 59: Hyundai Motor Group - Overview
*Exhibit 60: Hyundai Motor Group - Business segments
*Exhibit 61: Hyundai Motor Group - Key offerings
*Exhibit 62: Hyundai Motor Group - Segment focus
**10.9 KCCEC Engineering and Contracting Co.
*Exhibit 63: KCCEC Engineering and Contracting Co. - Overview
*Exhibit 64: KCCEC Engineering and Contracting Co. - Product and service
*Exhibit 65: KCCEC Engineering and Contracting Co. - Key offerings
**10.10 LOTTE Engineering and Construction Co. Ltd
*Exhibit 66: LOTTE Engineering and Construction Co. Ltd - Overview
*Exhibit 67: LOTTE Engineering and Construction Co. Ltd - Product and service
*Exhibit 68: LOTTE Engineering and Construction Co. Ltd - Key offerings
**10.11 Posco Engineering and Construction Ltd.
*Exhibit 69: Posco Engineering and Construction Ltd. - Overview
*Exhibit 70: Posco Engineering and Construction Ltd. – Business Segments
*Exhibit 71: Posco Engineering and Construction Ltd. - Key offerings
*Exhibit 72: Samsung Electronics Co. Ltd. - Overview
*Exhibit 73: Samsung Electronics Co. Ltd. - Business segments
*Exhibit 74: Samsung Electronics Co. Ltd. - Key offerings
*Exhibit 75: Samsung Electronics Co. Ltd. - Segment focus
**11.2 Currency conversion rates for US$
*Exhibit 76: Currency conversion rates for US$
*Exhibit 78: Validation techniques employed for market sizing
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